Allspring Global Investments Holdings LLC Purchases 35,790 Shares of Starbucks Co. (NASDAQ:SBUX)

Allspring Global Investments Holdings LLC raised its stake in Starbucks Co. (NASDAQ:SBUX) by 7.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 532,741 shares of the coffee company’s stock after buying an additional 35,790 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Starbucks were worth $49,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in SBUX. Financial Life Planners purchased a new stake in Starbucks in the 4th quarter valued at about $25,000. Collier Financial purchased a new stake in Starbucks in the 4th quarter valued at about $27,000. DT Investment Partners LLC boosted its position in Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after buying an additional 121 shares during the period. FSA Wealth Management LLC purchased a new stake in Starbucks in the 3rd quarter valued at about $49,000. Finally, Friedenthal Financial purchased a new stake in Starbucks in the 3rd quarter valued at about $50,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by corporate insiders.

Starbucks Trading Down 0.0 %

NASDAQ:SBUX opened at $113.00 on Friday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $113.40. The firm has a fifty day simple moving average of $97.76 and a 200-day simple moving average of $95.49. The company has a market capitalization of $128.36 billion, a P/E ratio of 36.45, a PEG ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the previous year, the firm earned $0.90 earnings per share. Equities analysts forecast that Starbucks Co. will post 3 EPS for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.16%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Barclays increased their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. TD Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus increased their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.